Politicians will push for more control and probably get it, Maastricht treaty or no Maastricht treaty.

Maastricht treaty or no Maastricht treaty, loss of public support for the ECB will diminish its independence.

The Maastricht Treaty contains the striking phrase overall harmonious development.

But if it goes too fast, the political cost could be substantial and irreversible. Politicians will push for more control and probably get it, Maastricht treaty or no Maastricht treaty.

The exclusion of members who violate the Maastricht Treaty is off the table.

The Maastricht Treaty envisaged a simple policy framework for economic and monetary union.

The Maastricht Treaty of 1992 was probably the last masterpiece of Franco German creativity.

When the Maastricht Treaty was negotiated, the Germans considered this provision an important concession.

If the Danes did not want the Maastricht Treaty, their choice would be fully respected.

The result was the 1991 Maastricht Treaty the point when European integration went into overdrive.

The last landmark in the Franco German partnership was the Treaty of Maastricht, concluded in 1991.

First, the ECB s mandate enshrined in the Maastricht Treaty is to deliver and maintain price stability.

There is an important parallel to this situation in 1992, Danes surprisingly voted No to the Maastricht Treaty.

The Maastricht Treaty established a monetary union without a political union a central bank, but no central treasury.

But since 1989 or since the Maastricht Treaty came into force in 1992 the political dynamic has changed.

Central bankers in Europe have always resented the narrow monetary policy mandate given to the ECB under the Maastricht Treaty.

I remember my surprise when, as a young assistant professor, I realized that I was opposed to the Maastricht Treaty.

European fiscal policy is constrained by the Maastricht Treaty, while European monetary policy is rather single mindedly devoted to price stability.ampnbsp

One way forward would be to establish numerical guidelines along the lines of the Maastricht Treaty for conferring G 7 membership.

Let me recall the situation in 1992, when a small majority of Danish voters (less than 1 ) rejected the Treaty of Maastricht.

Obviously, accepting the Maastricht Treaty, with its tough constraints on fiscal, monetary, and wage policies, is far more than an economic decision.

By contrast, the Maastricht Treaty tasked the ECB with maintaining price stability, but left it free to provide its own operational definition.

The objective is that of making public debt fall below the 60 criterion fixed by the treaty of Maastricht by 2020 2021.

A decade ago, with the Maastricht Treaty, EU members agreed to respect the history, culture, and traditions of all of their constituent peoples.

Nineteen years of experience with the Maastricht Treaty, which created both the EU and the euro, has shown convincingly that such limits are unenforceable.

The Maastricht Treaty established a monetary union, but the political union that is an indispensable precondition for the common currency s success remained a mere promise.

The response was eventually enshrined in the Maastricht Treaty, which extended the European Union s competences to foreign affairs and judicial matters, making them partly supranational.

This brings me to the subject of macroeconomic coordination at the EU level. The Maastricht Treaty envisaged a simple policy framework for economic and monetary union.

They are getting away with their power grab even though it goes against the Maastricht Treaty, which excludes nationality as a criterion for membership on the Executive Board.

Enter the Maastricht Treaty, which in theory imposes fiscal discipline by placing limits on government deficits and debt levels clearly a structure designed to prevent free riding on the fiscal discipline of others. Maastricht was thus intended to prevent a situation like the current one in Greece.

The defining factor in Trichet s sense of duty is the Maastricht Treaty, which clearly states the prime objective of Europe s central bank to be the promotion of price stability.

In France, during the 1992 referendum on the Maastricht Treaty, one poster used by campaigners for a 'Yes' vote featured a Yankee cowboy squashing the globe beneath his boots.

When the European Council opened the way for Turkish membership in 1999, it fully took into account the establishment of the European (political) Union by the Maastricht Treaty years earlier.

In countries like Germany, which have been on the ropes since the signing of the Maastricht Treaty, a continuation of stagnation or outright recession would deeply strain budgets and credibility.

As a result, intra European trade and support for European institutions, having soared in the previous two decades, began to decline practically before the ink on the Maastricht Treaty was dry.

When the Maastricht Treaty was ratified in 1993, many people doubted whether Economic and Monetary Union would work. The Treaty s objective was widely thought to be laudable but realizable only in the indefinite future.

Subsequently, they were constrained by the limits to their fiscal reactions embodied in the Maastricht Treaty the large economies of Continental Europe had not done enough budgetary consolidation during the years of good growth.

This stance came as a shock from Fabius, a signatory of the Single Act of 1986, a party leader during the Maastricht Treaty negotiations, and Finance Minister when France adopted the euro in 2001.

56 17. African Nuclear Weapon Free Zone Treaty (Treaty of Pelindaba)

58 30. African Nuclear Weapon Free Zone Treaty (Treaty of Pelindaba)

One idea making the rounds is for the European Parliament to define the ECB s objectives, on the basis that it is democratically elected as if the Maastricht Treaty did not result from a democratic process.

With the Germans helping to reconcile conflicting national interests by putting a little extra on the table, the process of European integration reached its apogee with the Maastricht Treaty and the introduction of the euro.

The Maastricht agreement and the launch of euro were landmarks of that process.

But could something like the Maastricht process be used to implement structural reform?

A Tricky Trade Treaty